FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6. A recent lottery collected $80 000 000 selling tickets at $2.50 each. The prizes were as follows: Prize ($) Number of Prizes 15 000

image text in transcribed
image text in transcribed
6. A recent lottery collected $80 000 000 selling tickets at $2.50 each. The prizes were as follows: Prize ($) Number of Prizes 15 000 000 1 100 000 20 1 000 1 000 100 15 000 25 100 000 10 500 000 a) What is the probability of winning a prize in this lottery? (Round to 3 decimal places.) [1] b) What is the expected payout per ticket? [2]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Algebra

College Algebra

Authors: Mark Dugopolski

5th Edition

0321899822, 9780321899828

More Books

Students also viewed these Mathematics questions

Question

★★★★★
Recall that a fictitious brand of a healthy food product- sliced apples-was packaged to appeal to children (a smiling cartoon apple was on the front of the package). The researchers compared the...

Answered: 1 week ago

Question

★★★★★
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following: 1. The specific eight-digit Codification citation (XXX-XX-XX-X) that describes...

Answered: 1 week ago

Question

★★★★★
Explain why self-acceptance is important for high self-esteem.

Answered: 1 week ago

Question

★★★★★
Lim Company records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $2,800, Service Revenue $9,200, and zero balances in related balance sheet...

Answered: 1 week ago

Question

★★★★★
3. Cul es la cantidad de Efectivo que debe figurar en el balance al 30 de junio? ps 4. Suponga que el banco registr incorrectamente un cheque cancelado por $390 como $930. Seleccione cmo se incluira...

Answered: 1 week ago

Question

★★★★★
ACC1810 - PRINCIPLES OF FINANCIAL ACCOUNTING Project 11: Chapter 11 - Stockholders' Equity Part B: Financial Statements The accounts of Rehearsal Corporation are listed along with their adjusted...

Answered: 1 week ago

Question

★★★★★
If I could please just help with the worksheet for this it would help greatly. Hint net income is to be 57,200 on august balance sheet and Trial balance before adjustment: $391,750 Enter beginning...

Answered: 1 week ago

Question

★★★★★
The J.R. Ryland Computer Company is considering a plant expansion to enable the company to begin production of a new computer product. The company's president must determine whether to make the...

Answered: 1 week ago

Question

★★★★★
The retail positioning matrix is an analytical tool thatA ) positions retail outlets in terms of the breadth of product line and value addedB ) identifies the best location for building or leasing a...

Answered: 1 week ago

Question

★★★★★
Since understanding forces in our environment that either help or hinder the acquisition of human capital, answer the following: What are the internal and external factors that influence an...

Answered: 1 week ago

Question

★★★★★
Case D Mr. Smith was transferred from the Coronary Care Unit to a semi-private room in Hapless Hospital. He decided to leave the hospital because he did not like his new accommodations or having a...

Answered: 1 week ago

Question

★★★★★
Think about Goleman's 6 leadership styles, and discuss how you think Goleman's leadership styles relate to the 4 quadrants of EI and the leadership styles outlined in this leadership questionnaire....

Answered: 1 week ago

Question

★★★★★
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date...

Answered: 1 week ago

Question

★★★★★
1. To provide an understanding of how emotions are regulated by the development of relationships between actors in a communication situation.

Answered: 1 week ago

Question

★★★★★
Positive effect on trusting others, and also improvements in the final results.

Answered: 1 week ago

Question

★★★★★
1. Discuss the following statements: a) Local links generate collective behaviours. b) An unfamiliar system will be described as chaotic by the ignorant. c) When we see that something is happening,...

Answered: 1 week ago

Previous Question Next Question